A historical overview of the general implementation of the European Union Market Abuse Directive in the United Kingdom before Brexit and its future implications

2017 ◽  
Vol 24 (2) ◽  
pp. 217-244
Author(s):  
Howard Chitimira
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Insider Trading ◽  
The European Union ◽  
Member States ◽  
Market Abuse ◽  
The United Kingdom ◽  
Insider Dealing ◽  
The Eu ◽  
Market Abuse Directive

The European Union (EU) was arguably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its Member States. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonized the insider trading ban among the EU Member States. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all forms of market abuse in the EU’s securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the UK’s vote to leave the European Union (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK.

Brexit and the Future of the European Union

2020 ◽  
Author(s):  
Federico Fabbrini
Keyword(s):  
European Union ◽  
United Kingdom ◽  
European Integration ◽  
The European Union ◽  
Integration Process ◽  
Member States ◽  
The United Kingdom ◽  
The Future ◽  
The Uk ◽  
The Eu

This book examines how the European Union has changed during Brexit and because of Brexit, while also reflecting on the developments of the EU besides Brexit and beyond Brexit. It argues that the withdrawal of the United Kingdom from the EU—the first ever case of disintegration since the start of the European integration process—creates an urgent need to reform the EU. In fact, while the EU institutions and its Member States have remained united in their negotiations vis-à-vis the UK, Brexit has created transitional problems for the EU, and exposed other serious fissures in its system of governance which need to be addressed moving forward. As the EU goes through another major crisis in the form of the response to the Covid-19 pandemic, the case for increasing the effectiveness and the legitimacy of the EU grows stronger. In this context, the book analyses the plan to establish a Conference on the Future of Europe, considering its precedents and discussing its prospects.

Part IX International Environmental Law in National/Regional Courts, Ch.63 European Union/United Kingdom

2021 ◽  
Author(s):  
Scotford Eloise
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Environmental Law ◽  
Court System ◽  
The European Union ◽  
International Environmental Law ◽  
Member States ◽  
The United Kingdom ◽  
The Uk ◽  
The Eu

This chapter evaluates international environmental law (IEL) in the courts of the European Union (EU) and the United Kingdom. This topic potentially covers many different kinds of courts, considering that the EU comprises many member states, each with its own court system, and the United Kingdom itself is a system of devolved government with different court systems. To draw out some key themes, the chapter focuses on decisions of the EU courts and the UK courts in England and Wales, as well as particularly notable decisions of other EU member state courts (available in English). The different experiences of IEL in these three sets of courts demonstrate that the doctrines of different legal systems and their legal cultures are critical to the experiences of their courts in implementing IEL. The chapter examines the reception and application of IEL in these different courts in two steps. It first looks at cases in which IEL has been directly applied by courts, considering the complex EU law in this area, and the EU's special role in implementing IEL in member states. The chapter then addresses cases where IEL applies indirectly in judicial reasoning.

scholarly journals Brexit: Consequences and Prospects (in The Context of Building New Britain-Ukraine-Eu Relations)

2020 ◽  
pp. 47-61
Author(s):  
Oleksandra Hissа-Ivanovych ◽  
Yana Kybich
Keyword(s):  
European Union ◽  
United Kingdom ◽  
The European Union ◽  
Member States ◽  
European Continent ◽  
The United Kingdom ◽  
History Of ◽  
First Time ◽  
New Britain ◽  
The Eu

Britain’s withdrawal from the European Union is an extraordinary event in the history of the EU and the European continent as a whole. For the first time since the Union’s existence, one of the member states is leaving it. Of course, this situation has caused a significant resonance in the world community, because the question of the consequences that may arise as a result of such an event has become acute. It is clear that Brexit will not only provoke changes in the economic, political and cultural spheres of the relations between the United Kingdom and the European Union, but may also affect relations with third countries, including Ukraine. This article examines the possible effects of Brexit on the further development of the United Kingdom, on the future of the EU in the context of growing Euroscepticism among member states, and on Britain’s and the European Union’s relations with Ukraine as a country that has clearly declared its pro-European position, and strives to become part of the EU by all means.

scholarly journals Introducing the EU exit index measuring each member state’s propensity to leave the European Union

2021 ◽  
pp. 146511652110001
Author(s):  
Markus Gastinger
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Union Member ◽  
The European Union ◽  
Substantial Variation ◽  
Member States ◽  
The United Kingdom ◽  
Propensity To Leave ◽  
European Union Member States ◽  
The Eu

Which member states could leave the European Union in the years ahead? To answer this question, I develop the ‘EU Exit Index’ measuring the exit propensities of all European Union member states. The index highlights that the United Kingdom was an outlier and uniquely positioned to leave the European Union. While all other states are far behind the United Kingdom, the index still reveals substantial variation among them. Moreover, the index allows monitoring the development of exit propensities over time. It shows that the European Union is in better shape today than before the Brexit referendum and that, currently, no further exits are on the horizon. Still, this could change in the future and the EU Exit Index provides systematic and reproducible measurements to track this development.

Part III Prospectus Liability and Litigation, 26 United Kingdom

2020 ◽  
Author(s):  
McMeel Gerard
Keyword(s):  
European Union ◽  
United Kingdom ◽  
The European Union ◽  
Member States ◽  
Prime Ministers ◽  
Eu Member States ◽  
The United Kingdom ◽  
Prospectus Liability ◽  
The Uk ◽  
The Eu

This chapter provides an overview of the relevant UK law. The timing of the coming into force in EU Member States of the Prospectus Regulation posed some problems of exposition of the law in the United Kingdom of liability for information in prospectuses. The date of the Regulation coming into force was when it was originally intended that the UK would leave the European Union. When the date for ‘Brexit’ was extended, the Regulation automatically came into force in accordance with orthodox EU and UK arrangements. However, after changing prime ministers, the date for Brexit became uncertain. Furthermore, there were questions as to whether the UK would leave pursuant to the negotiated Withdrawal Agreement or some other withdrawal agreement, or with no agreement with the EU (the ‘no deal’ scenario) at all. The chapter tries to address the various possible scenarios arising from these complications introduced by Brexit.

scholarly journals Wpływ wyjścia Zjednoczonego Królestwa z Unii Europejskiej na wspólną politykę bezpieczeństwa i obrony UE

2018 ◽  
Vol 1 (1) ◽  
pp. 103-122 ◽  
Author(s):  
Tomasz Kubin
Keyword(s):  
European Union ◽  
United Kingdom ◽  
European Integration ◽  
Research Question ◽  
The European Union ◽  
The United Kingdom ◽  
Defence Policy ◽  
The Uk ◽  
The Eu ◽  
Common Security

The exit of the United Kingdom from the European Union (so-called Brexit) is one of the most important events in the process of European integration. It has a lot of extremely remarkable implications – both for the EU and for the United Kingdom. Among other, Brexit will affect the security of the United Kingdom and the EU. The aim of the study is to answer the research question: how will Britain’s exit from the EU influence the EU common security and defence policy? In order to answer this question, the factors that are most relevant to the United Kingdom’s significance for the EU’s security and defence policy will be identified. This will show how the EU’s potential of the security and defence policy will change, when the UK leaves this organisation. The most important conclusions are included in the summary.

Mutual Trust between the Member States of the European Union and the United Kingdom after Brexit:

2020 ◽  
Author(s):  
Radovan Malachta
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Transitional Period ◽  
Mutual Trust ◽  
The European Union ◽  
Member States ◽  
International Convention ◽  
Eu Member States ◽  
The United Kingdom ◽  
The Uk

The paper follows up on the arguments introduced in the author’s article Mutual Trust as a Way to an Unconditional Automatic Recognition of Foreign Judgments. This paper, titled Mutual Trust between the Member States of the European Union and the United Kingdom after Brexit: Overview discusses, whether there has been a loss of mutual trust between the European Union and the United Kingdom after Brexit. The UK, similarly to EU Member States, has been entrusted with the area of recognition and enforcement of judgements thus far. Should the Member States decrease the level of mutual trust in relation to the UK only because the UK ceased to be part of the EU after 47 years? Practically overnight, more precisely, the day after the transitional period, should the Member States trust the UK less in the light of legislative changes? The article also outlines general possibilities that the UK has regarding which international convention it may accede to. Instead of going into depth, the article presents a basic overview. However, this does not prevent the article to answer, in addition to the questions asked above, how a choice of access to an international convention could affect the level of mutual trust between the UK and EU Member States.

Legislating and Adjudicating

2020 ◽  
pp. 173-192
Author(s):  
Eleanor Sharpston
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Good Reason ◽  
Case Law ◽  
Legislative Process ◽  
The European Union ◽  
The United Kingdom ◽  
European Union Legislation ◽  
Final Text ◽  
The Eu

The chapter examines the role played by the Court of Justice of the European Union (the CJEU) in ruling authoritatively on the meaning of European Union legislation. The EU legislative process differs from the parliamentary process in the United Kingdom for good reason. Within the European Union, there are many different traditions of how such drafting should be done; whilst, at EU level, multinationalism and multilingualism have a significant impact on what emerges as the final text. The chapter explains the difficulties encountered and gives illustrations from the Court’s case-law of instances where the Court has either decided not to take steps that might be construed as ‘legislating’ or, conversely, has gone to the limits of ‘constructive re-interpretation’. The chapter concludes by asking how far the Court should ‘bend’ a legislative text.

Introduction

2020 ◽  
pp. 1-34
Author(s):  
Federico Fabbrini
Keyword(s):  
European Union ◽  
United Kingdom ◽  
European Parliament ◽  
The European Union ◽  
The United Kingdom ◽  
Uk Government ◽  
Article 50 ◽  
The Uk ◽  
The Eu

This introductory chapter provides an overview of the Withdrawal Agreement of the United Kingdom (UK) from the European Union (EU). The Withdrawal Agreement, adopted on the basis of Article 50 Treaty on European Union (TEU), spells out the terms and conditions of the UK departure from the EU, including ground-breaking solutions to deal with the thorniest issues which emerged in the context of the withdrawal negotiations. Admittedly, the Withdrawal Agreement is only a part of the Brexit deal. The Agreement, in fact, is accompanied by a connected political declaration, which outlines the framework of future EU–UK relations. The chapter then offers a chronological summary of the process that led to the adoption of the Withdrawal Agreement, describing the crucial stages in the Brexit process — from the negotiations to the conclusion of a draft agreement and its rejection, to the extension and the participation of the UK to European Parliament (EP) elections, to the change of UK government and the ensuing constitutional crisis, to the new negotiations with the conclusion of a revised agreement, new extension, and new UK elections eventually leading to the departure of the UK from the EU.

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